Sitel Receivables Management (SRM): A New, More Effective Collections Strategy

Most businesses still handle collections the way they did 20 years ago - they keep their customer care and past-due collections functions separate. As such, they employ a "reactive" collections strategy - one that involves waiting until the customer is well past due before turning the account over to a first/third-party collections agent.

Sitel delivers a new "preventive" collections approach that combines advanced technology and sophisticated billing analytics to identify and prioritize revenue recovery opportunities early in the payment cycle. This proven strategy often secures payment before the customer ever reaches the collections stage.

The Sitel program employs "Universal" agents skilled in both customer care and collections. These specially trained agents are better able to engage late-paying customers and gradually move them away from the collections process, in some cases permanently.

Identifying and resolving past-due issues before the customer reaches the collections stage is a proven way to increase revenues, reduce collection costs, enhance the customer relationship and improve the company's bottom line.